Straight lines and Linear Equations

Сентябрь 12, 2022

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Straight lines and Linear Equations

Содержание

2. Linear Equation is the equation in which Variables are multiplied by constants and summed No variables
3. Linear equation in two variables x and y describes the straight line on the xy-plane
4. Parallel and perpendicular Two straight lines with slopes m1 and m2 are parallel if m1=m2. Two
5. Applications to business and economics
6. Linear Cost Model Linear Cost Model Total Costs = Variable Costs + Fixed Costs depend on
7. Break-even Analysis If TC > TR a loss If TC If TC = TR no loss
8. Supply and Demand Law of Supply - a relation specifying the amount of any commodity that
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Linear Equation is the equation in which
Variables are multiplied by constants

and summed
No variables are multiplied together
No powers of variables greater than one, no fractional or negative powers
No roots, logarithms, exponents, trigonometric and other expressions of the variables

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Linear equation in two variables x and y describes the straight

line on the xy-plane

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Parallel and perpendicular
Two straight lines with slopes m1 and m2 are

parallel if m1=m2.
Two straight lines with slopes m1 and m2 are perpendicular if m1m2= -1.

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Applications to business and economics

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Linear Cost Model
Linear Cost Model
Total Costs = Variable Costs + Fixed

Costs

depend on the level of production

do not depend on the level of production

TC = m·x + b

variable costs per unit

fixed costs

amount of commodity produced

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Break-even Analysis
If TC > TR a loss
If TC < TR a

profit
If TC = TR no loss and no profit

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Supply and Demand
Law of Supply - a relation specifying the amount

of any commodity that manufacturers (or sellers) can make available in the market at various prices.
Law of Demand - a relationship that specifies the amounts of a particular commodity that consumers are willing to buy at various price levels.